Original｜Odaily Planet Daily ( @OdailyChina )
Author: Wenser ( @wenser 2010 )
After receiving $2 billion in funding from Abu Dhabi MGX, Binance founder CZ once again brought a BSC-ecological meme feast to the crypto market. Many Middle East concept meme coins have become active again, among which Mubaraks market value has risen rapidly to over $140 million in just a few days, and it can be called CZ concept dragon one. Odaily Planet Daily will briefly sort out the BSC meme bull market under the CZ concept in this article for readers reference.
The story begins: CZ’s “Middle Eastern friend” GMX invests $2 billion in Binance
It all started with Abu Dhabi MGX investing in Binance.
On March 12, Abu Dhabi investment company MGX spent $2 billion to acquire a minority stake in Binance. For details, see the article Unveiling MGXs $2 billion stake in Binance: The son of the founding father of the United Arab Emirates is at the helm. On March 13, CZ himself forwarded the media news that Binance accepted MGXs investment.
This investment is also the largest investment in the history of cryptocurrency and the largest investment in the form of cryptocurrency stablecoins. Given MGXs superior position in the investment field in the Middle East and even the world, the market interpreted it as Binances hugging the thighs of the Middle Eastern power, and the price of BNB once rose by more than 10% that day.
Binance’s Chinese official account posted a message with a picture of a Middle Eastern Muslim character. The tweet was then retweeted by CZ, who also posted : “mubarak🌛” (Odaily Planet Daily Note: Arabic, meaning “blessing”).
The butterflys wings begin to flutter
On March 14, community member @chinababa 88 posted a meme of “MUBARAK=CZ” in the comment section of the X platform, which was retweeted by CZ himself with a “😂” emoticon. It can be seen that he also recognized and paid attention to this meme.
The similarity is indeed very high
Later, CZ retweeted his 2021 tweet Inshallah (Odaily Planet Daily Note: Arabic, meaning God bless) , and attached a photo of his meeting with UAE President Sheikh Mohammed bin Zayed Al Nahyan , with the caption Mashallah, and pinned the tweet.
With a piece of cloth on my head, I am the richest person in the world
On March 15, CZ posted a message on Binance Square saying Im going to meet a friend this weekend and attached a Mubarak-related meme picture. Influenced by this news , the price of BSC ecosystem meme coin Mubarak quickly rose by more than 150%, with a market value of over 20 million US dollars and a 24-hour trading volume of 27.1 million US dollars. Perhaps the rise and fall of the BSC Meme ecosystem depends on CZ alone. That night, Binance Alpha officially launched mubarak , pushing its market value to 50 million US dollars.
Just when the market thought that the BSC Meme craze was making a comeback and was in an extreme FOMO, CZs unexpected sassy operation came late but arrived.
Sexy CZ, making money online
On the evening of March 16, CZ first cancelled the pinned tweets related to Inshallah. Affected by this news, the market value of meme coins such as Mubarak and Inshallah plummeted. Subsequently, he bought 1 BNB of TST and Mubarak tokens on the chain. TST then rose in a short period of time , with a market value of over 75 million US dollars; Mubarak rose by more than 120% in a short period of time , with a market value of 62.8 million US dollars.
This operation also confused the market. CZ responded on Binance Square , Do some testing on the weekend. A community member lamented: This man who can influence the entire BSC ecosystem still loves testing so much.
On the evening of March 16, Mubaraks market value briefly exceeded $92 million , temporarily reported at $84 million, and the 24-hour increase expanded to 85.8%; on the morning of March 17, Mubaraks market value exceeded $100 million , and now reported at $98 million, with a 24-hour increase expanded to 158%, and then rose to nearly $150 million. As of the time of writing, according to GMGN data, Mubaraks market value has risen again to around $130 million.
It is worth mentioning that Mubarak is also a token project launched by Four.meme, a one-click coin issuance platform of the BSC ecosystem. Another project of the team behind the platform, BNX, has also seen a gratifying growth recently.
Mubarak, Inshallah: Blessings and Gods Blessing from the Middle East Powers
The following are representative Meme coin projects of the Middle East Concept Meme Coin. Odaily Planet Daily reminds readers that the price of Meme coins fluctuates greatly and the investment risk is relatively high. The following content is not intended as investment advice and is for reference only.
Mubarak: CZ Concept Dragon One
Contract: 0x5c85d6c6825ab4032337f11ee92a72df936b46f6
Price: 0.13
Market cap: $130 million
Token Information
Mashallah: CZ Pinned Tweet Concept
Contract: 0xc64b6af2d11ae5f908ea12f1c3d1888eb8ee5639
Price: $0.004
Market value: $4 million
Token Information
Other CZ-related concept meme coins such as In shallah, BabyMubarak, Mansa, Salmon, etc. have undergone sufficient PVP, and their current market values have fallen sharply compared to their highs, so they will not be introduced in detail here.
Some of the most successful projects on Mubarak: some made more than 1,400 times their money, and some made $1.5 million
It is worth mentioning that Mubarak is currently the undisputed CZ Concept Meme Coin Dragon One, and many traders have made a lot of profit from it.
Trader A: Invested 2B NB and earned $1.5 million
According to Onchain Lens, a trader made a profit of about $1.5 million through MUBARAK token trading in just four days. The trader spent 2 BNB (about $1,155) to buy 20.84 million MUBARAK tokens four days ago. Currently, the trader has sold 7.84 million MUBARAK tokens for 4.7 BNB (about $2,710), and the trader now has 13 million MUBARAK tokens left, equivalent to about $1.5 million.
Address: 0x97015688edae42d65f94bc6fe36cfdbdcd50a710
The top one: spent $1,153, with a return rate of more than 1,400 times
On the evening of March 16, due to the purchase of CZ address, Mubarak’s market value reached a new high again. The floating profit of the number one address 0x970 increased to 1.2 million US dollars , with a return rate of 1058 times.
Compared with the previous price, the current market value of Mubarak has risen again, and its floating profit has also increased to 1.6 million US dollars, and its rate of return has now exceeded 1,400 times. It is worth mentioning that this address has bought all the Mubarak-related Meme coins, which can be called a wide-ranging example of making a fortune.
Address: 0x97015688edae42d65f94bc6fe36cfdbdcd50a710
Of course, it is not easy for many profit-taking traders to successfully realize their profits.
Profit taking is far from over: Mubarak lacks liquidity depth
According to Ai Yi, an on-chain analyst, MUBARAK currently has a problem of insufficient liquidity depth, which may make it difficult for large holders to sell their holdings without significantly affecting the price. Data shows that MUBARAKs current market value is about $134 million, and its 24-hour trading volume is $88.1 million, but the liquidity pool depth is only $4.48 million, accounting for only 5% of the daily trading volume. PancakeSwap data shows that the cumulative TVL of the top two liquidity pools of the token is only $4.01 million, of which the cumulative number of WBNB is 3,175.8 (about $2 million). Taking the first address 0x970 as an example, the 13 million tokens currently held by this address are worth about $1.618 million. If you try to sell all of them at the market price, you will face a slippage loss of more than $500,000, because the BNB depth of the current liquidity pool cannot support such a large-scale transaction.
Mubaraks holdings distribution: relatively healthy, the next expectation may be to land on Binance spot market
According to the on-chain holding distribution chart, the current Mubarak holding addresses are distributed relatively evenly. The front row addresses, including the top one on the list, are still held in diamond hands, perhaps waiting to be listed on the Binance spot market before selling for profit.
Source: Cindy Fat Di
Conclusion: CZ single-handedly drives the BSC Meme local bull market
From the initial AVA, to TUT, TST, and the recent Mubarak, despite the volatile downward trend in the crypto market, the BSC ecosystem still saw a wave of partial bull market thanks to the transcendent position of CZ and Binance in the cryptocurrency market and their strong influence in the spotlight. Whether CZ, Binance, and BSC ecosystems can learn from the past experience of the Meme coin craze of other competing ecosystems and achieve overtaking on the curve is still a question mark.
But no matter what, the seeds have been sown, and where the future will go depends only on the choices of those involved.
